Browsing Tag

BDC

CBN raises Forex supply to BDCs by 20%

The Central Bank of Nigeria (NAN) on Thursday said it would start selling foreign exchange to the Bureau de Change (BDC) market twice weekly and also boost their liquidity by 20 per cent.This is coming barely 24 hours after Dollars…

CBN reviews BDC rates down to N360/$

The Central Bank of Nigeria (CBN) has reviewed down the rate at which it was selling dollars to Bureau De Change (BDC) operators nationwide.Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON),…

CBN sells $25m to 3,124 BDC operators

Travelex with the approval of the CBN on Thursday sold a total of $25 million to 3,124 Bureau De Change (BDC) operators. The development also helped to improve the volume available to sell to retail customers.The President of the…

Naira Rises Against Dollar

The Naira on Friday appreciated against the dollar at the interbank market, after sustaining losses for two days, the News Agency of Nigeria (NAN) reports.The Nigerian currency gained N5.28 to close at N307.79 from N313.07 posted on…

CBN Resumes Dollar Sales To BDCs

The Central Bank of Nigeria (CBN) has resumed the sale of the dollar to Bureaux De Change (BDCs) months after it shut down the operation.The CBN had stopped sales in January due to what it called dollar scarcity and abuse of operating…